Zacks
0
All posts from Zacks
Zacks in Our Research. Your Success.,

Chemical Stocks Reporting Earnings on May 5: AXLL, OEC, TREC

A few chemical companies are slated to report their first-quarter results on May 5. The chemical industry is gradually gaining strength after being hit by global economic crisis. The industry’s recovery momentum is expected to continue in 2016, supported by continued strength in the automotive market and positive trends in the construction space.

The chemical industry falls under the broader Basic Materials sector which is among 9 of the 16 Zacks sectors that are expected to see negative earnings growth in the first quarter with an expected earnings decline of 15.8% on 8.5% lower sales, per our latest Earnings Trend report. Nevertheless, the sector is witnessing improved blended beat which is the proportion of companies that beat both revenues and earnings estimates. Blended beat for the sector for the first quarter is 42.9%, which compares favorably to 4-quarter average of 8.9%.

Let’s take a peek at three chemical companies that are scheduled to report tomorrow.

Axiall Corporation AXLL, which is scheduled to report before the bell on May 5, has an Earnings ESP of 0.00% as the Most Accurate Estimate and the Zacks Consensus Estimate both stand at a loss of 29 cents. The stock holds a Zacks Rank #5 (Strong Sell), which coupled with a 0.00% ESP, makes surprise prediction difficult.  Axiall has beaten the Zacks Consensus Estimate in 3 of the trailing 4 quarters while missing once with an average positive surprise of 97.64%.

Orion Engineered Carbons SA OEC, which is scheduled to report after the bell on May 5, has an Earnings ESP of 13.79% as the Most Accurate Estimate stands at 33 cents while the Zacks Consensus Estimate is pegged at 29 cents. The stock holds a Zacks Rank #3 (Hold), which coupled with a positive ESP, shows that Orion is likely to beat earnings estimates this quarter because it has the right combination of two key ingredients. Orion has beaten the Zacks Consensus Estimate in 1 of the trailing 4 quarters while missing twice and meeting once, with an average positive surprise of 0.45%.

Trecora Resources TREC, which is scheduled to report after the bell on May 5, has an Earnings ESP of 58.82% as the Most Accurate Estimate stands at 27 cents while the Zacks Consensus Estimate is pegged at 17 cents. The stock holds a Zacks Rank #4 (Sell), which coupled with a positive ESP, makes surprise prediction difficult. Trecora has beaten the Zacks Consensus Estimate in all of the trailing 4 quarters with an average positive surprise of 24.06%.

Stay tuned! Check back later for our earnings coverage of these stocks.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
TRECORA RESRCS (TREC): Free Stock Analysis Report
 
ORION ENGINRD (OEC): Free Stock Analysis Report
 
AXIALL CORP (AXLL): Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research